The Camera Mining and Dominican Republic Oil Company (Camipe) advocated this Friday for a new law for the sector “that can guarantee legal certainty to attract more investment” and promote an exercise of mining responsible.
The entity said in a statement that “there are many projects” stopped waiting for permits to carry out studies. He considered that these projects are opportunities for the country.
According to a release of the entity, the industry mining need a law modern that ensures the sustainability of the sector and promotes environmentally responsible practices.
The Camipe highlighted the urgency of a law that provides legal security to the sector and attracts investment foreigner to the sector, highlighting that only one of the projects pending could bring in up to $530 million in revenue.
“The creation of a regulations adequate will allow the country to take advantage of its abundant resources in a balanced way, generating long-term economic and environmental benefits,” said the Camerawhich was also willing to collaborate in the design of this law.
“The mining industry generates thousands of jobs“
The entity said that the mining In the Dominican Republic it is a crucial sector for the economy. He highlighted that the country has great reservations of minerals such as gold, silver and ferronickel.
The Camipe highlighted the example of Barrick Pueblo Viejowhich in the last decade has contributed more than 3,207 million dollars, “which exceeds 190 billion in direct and indirect taxes”.
In addition to tax revenue, the Mining Chamber emphasized that the mining promotes the creation of jobs. “The sector miner generates thousands of jobs direct and indirect, with salaries that have historically been three times higher than the average in other areas of the economy“he highlighted.
The institution also highlighted that strengthening the mining will allow diversifying the economy Dominican, reducing dependence on other sectors.
